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Q1 2014 Kasper Rorsted Carsten Knobel Dsseldorf May 07, 2014 - PowerPoint PPT Presentation

Henkel Q1 2014 Kasper Rorsted Carsten Knobel Dsseldorf May 07, 2014 Disclaimer This information contains forward-looking statements which are based on current estimates and assumptions made by the corporate management of Henkel AG &


  1. Henkel Q1 2014 Kasper Rorsted Carsten Knobel Düsseldorf May 07, 2014

  2. Disclaimer This information contains forward-looking statements which are based on current estimates and assumptions made by the corporate management of Henkel AG & Co. KGaA. Statements with respect to the future are characterized by the use of words such as “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, and similar terms. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and results actually achieved by Henkel AG & Co. KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside Henkel's control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. Henkel neither plans nor undertakes to update any forward-looking statements. Q1 2014 – Henkel Analyst & Investor Call 2 May 07, 2014

  3. Agenda 1 Key developments Q1 2014 2 Financials Q1 2014 3 Summary & outlook FY 2014 Q1 2014 – Henkel Analyst & Investor Call 3 May 07, 2014

  4. Good start into the year OSG Adj. EBIT margin Adj. EPS growth +4.3% 15.8% +8.3% OSG in EM NWC in % of sales Net financial pos. 923 m € +9.2% 4.8% Q1 2014 – Henkel Analyst & Investor Call 4 May 07, 2014

  5. Continued profitable growth path in all business units • Solid organic sales growth driven by all businesses • Emerging Markets with very strong organic sales growth • Hair Salon & Electronic Adhesives positive • Very strong improvement in adj. EBIT margin, supported by all businesses • High single-digit adj. EPS growth Q1 2014 – Henkel Analyst & Investor Call 5 May 07, 2014

  6. FX headwind and geo-political uncertainties • High pressure from FX headwind • Continued geo-political / social unrest in some countries and high uncertainty on developments in Russia & Ukraine • North America with negative organic sales growth • Competitive intensity in HPC remains high Q1 2014 – Henkel Analyst & Investor Call 6 May 07, 2014

  7. Laundry & Home Care Strong OSG & excellent margin improvement in Q1 2014 Sales Return • • Strong OSG Adj. EBIT margin showing excellent increase • Both Laundry & Home Care • strong ROCE further increased • Emerging Markets OSG double-digit • Mature Markets OSG positive Q1 2014 – Henkel Analyst & Investor Call 7 May 07, 2014

  8. Laundry & Home Care Strengthening innovation leadership across categories Stop Sorting Vernel 8 weeks freshness Pril Duo-Power • Prevents discolorations, • Superior scent performance, new • Strong against grease & starch- anti-dye transfer technology encapsulation technology crusts, new enzyme technology • Global roll-out • Roll-out in Europe • Global roll-out Q1 2014 – Henkel Analyst & Investor Call 8 May 07, 2014

  9. Q1 2014 – Henkel Analyst & Investor Call 9 May 07, 2014

  10. Beauty Care Solid OSG and very strong margin improvement in Q1 2014 Sales Return • • Solid OSG Adj. EBIT margin showing very strong increase • Retail solid, • Hair Salon positive ROCE below level of previous year • Emerging Markets OSG (restructuring) strong • Mature Markets OSG positive Q1 2014 – Henkel Analyst & Investor Call 10 May 07, 2014

  11. Beauty Care Strengthening innovation leadership across categories Diadermine N˚110 Nectra Color essence ULTÎME • 1 st anti-age line with 110 drops of • 1 st nourishing Hair Color from • 1 st celebrity co-created hair brand elixir activating 11 signs of youth Schwarzkopf with floral nectar in retail • Celebration of 110 years of • Botanical oils for exceptional • High-performance formulas with dermatological expertise nutrition and illuminating colors luxurious pearl essence Q1 2014 – Henkel Analyst & Investor Call 11 May 07, 2014

  12. Q1 2014 – Henkel Analyst & Investor Call 12 May 07, 2014

  13. Adhesive Technologies Solid OSG and strong margin improvement in Q1 2014 Return Sales • • Solid OSG Adj. EBIT margin showing strong increase • Emerging Markets OSG • very strong ROCE further increased • Mature Markets OSG positive Q1 2014 – Henkel Analyst & Investor Call 13 May 07, 2014

  14. Adhesive Technologies Fostering technology leadership with strong innovations Pritt Liquid Glue Loctite TAF 8800 Bonderite Flex Process • High performing all-purpose liquid • Versatile thermal absorbing films • Surface treatment process glue for handicrafts for increased design flexibility allowing more aluminum in cars • Safe formulation: 90% natural • Significant reduction of handheld • Implementation in cooperation ingredients, solvent free temperature with key customers Q1 2014 – Henkel Analyst & Investor Call 14 May 07, 2014

  15. Q1 2014 – Henkel Analyst & Investor Call 15 May 07, 2014 May 07, 2014

  16. Agenda 1 Key developments Q1 2014 2 Financials Q1 2014 3 Summary & outlook FY 2014 Q1 2014 – Henkel Analyst & Investor Call 16 May 07, 2014

  17. Further improvement of all key financial indicators Sales in m € , OSG in % Gross Margin Adj. in % EBIT Margin Adj. in % EPS Pref. Adj. in € +4.3% +30bp +90bp +8.3% 48.9 1.04 4,033 15.8 48.6 3,929 0.96 14.9 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 Q1 2014 – Henkel Analyst & Investor Call 17 May 07, 2014

  18. Disciplined cash management & strong financial position NWC in % of Sales Free Cash Flow in m € Net Financial Position in m € -69.9% -100bp +809m € 5.8 209 923 4.8 63 114 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 Q1 2014 – Henkel Analyst & Investor Call 18 May 07, 2014

  19. Solid organic sales growth, FX headwind persisting in m € , changes in % OSG: +4.3 % -6.8% +3.6% +0.7% 4,033 -0.1% 3,929 Sales Q1/13 Price Volume FX M&A Sales Q1/14 • Strong FX headwind from Emerging Markets currencies and US-Dollar Q1 2014 – Henkel Analyst & Investor Call 19 May 07, 2014

  20. Emerging Markets very strong, Mature Markets positive in m € , OSG in % Emerging Markets Mature Markets +9.2% +0.8% 2,266 2,226 1,728 1,669 Q1/13 Q1/14 Q1/13 Q1/14 • Emerging Markets sales share of 42% Q1 2014 – Henkel Analyst & Investor Call 20 May 07, 2014

  21. Broad-based growth across regions in m € , OSG in % Western Europe Eastern Europe Africa/Middle East +2.4% +5.4% +17.9% 1,421 1,450 670 718 289 277 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 North America Latin America Asia-Pacific -3.1% +8.4% +9.3% 729 670 588 580 241 257 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 • BRIC with very strong organic sales growth • United States with a difficult start, Japan showing first signs of recovery Q1 2014 – Henkel Analyst & Investor Call 21 May 07, 2014

  22. Laundry & Home Care Fostering profitable growth path in Q1 2014 Sales in m € , OSG in % EBIT Margin Adj. in % NWC in % of Sales +6.0% +160bp -230bp 16.6 1,177 1,147 15.0 -3.8 -6.1 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 • OSG purely driven by volume • Excellent EBIT margin increase driven by efficiency gains Q1 2014 – Henkel Analyst & Investor Call 22 May 07, 2014

  23. Beauty Care Fostering profitable growth path in Q1 2014 Sales in m € , OSG in % EBIT Margin Adj. in % NWC in % of Sales +3.0% +80bp -100bp 15.7 873 856 14.9 3.4 2.4 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 • OSG driven by 1.7% in price and 1.3% in volume • Very strong EBIT margin increase driven by efficiency gains Q1 2014 – Henkel Analyst & Investor Call 23 May 07, 2014

  24. Adhesive Technologies Fostering profitable growth path in Q1 2014 Sales in m € , OSG in % EBIT Margin Adj. in % NWC in % of Sales +4.1% +40bp -90bp 16.9 16.5 13.6 1,944 1,893 12.7 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 • OSG driven by 0.8% in price and 3.3% in volume • Strong EBIT margin increase driven by portfolio optimization and efficiency gains Q1 2014 – Henkel Analyst & Investor Call 24 May 07, 2014

  25. Gross margin further improved, on record level Income statement adjusted Sales in m € , nom. growth % Gross Profit in m € Gross Margin in % of Sales -2.6% -2.0% +30bp 4,033 3,929 48.9 48.6 1,961 1,922 Q1/13 Q1/14 Q1/13 Q1/14 Q1/13 Q1/14 • Gross margin enhanced by cost savings, portfolio optimization and selective price increases Q1 2014 – Henkel Analyst & Investor Call 25 May 07, 2014

  26. Very strong adj. EBIT margin increase, plus 90bp Income statement adjusted in m € , % of sales 48.9% -26.2% 1,922 -2.6% -4.5% 15.8% +0.2% 619 Marketing, Gross Profit R&D Admin. OOI/OOE EBIT selling & distr. • Lower Marketing, selling & distribution expenses, mainly due to FX • Administration expenses reduced compared to prior year’s quarter Q1 2014 – Henkel Analyst & Investor Call 26 May 07, 2014

  27. Continuous adaptation of our structures to the market in m € 28 619 -25 608 8 Reported EBIT One-time One-time Restructuring Adjusted EBIT Q1/14 gains charges charges Q1/14 Q1 2014 – Henkel Analyst & Investor Call 27 May 07, 2014

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